Financing in 22209 : Advice

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Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
Is my landlord attempting fraud? I certainly don't mind obliging in this situation as he has been an excellent landlord however if there is a
I think you answer your own question by questinioning his motives. Simply put if you lie on a loan application it is fraud. Investor loans are higher in interest to reflect the higher r ... more
0 votes Share Flag Tue Oct 2, 2012 Financing in Arlington
Title Agent…,  in Kansas City, MO
Title Agent 64055 answered:
if my name is on benefeciary deed already and can i add one on be half of my side which is from my family at the philippines?
No. Only the owner of the home can add names to title, even on a Benficiary Deed. After the death of the owners and the "ben deed" goes into effect, then you may quit claim the property ... more
0 votes Share Flag Wed Aug 14, 2013 Financing in 22201
Gregorio Den…, Real Estate Pro in ,
Gregorio Denny answered:
Why do lenders limit the amount of seller concessions to 3%? As a buyer, if the seller agrees to 3.5%, what difference does it make to the lender?
It depends on what type of financing you are using as well as the down payment. FHA allows up to 6% while Fannie Mae has a sliding scale.

Greater than 90%LTV = 3% max
75.01% to 90 ... more
0 votes Share Flag Tue Oct 25, 2011 Financing in 22202
Melissa Bark…, Real Estate Pro in Washington, DC
Melissa Barkalow answered:
Has anyone heard of or got any history with a lending processor named VICBURNS, LLC?
No, sorry. I can recommend a lender if you are looking for someone.

Good luck
0 votes Share Flag Thu Feb 10, 2011 Financing in 22201
Jim McCowan, Real Estate Pro in Arlington, VA
Jim McCowan answered:
My husband's looking 2 buy house or property 2 build-he may be changing employers soon-will he have 2 wait years b4 he can try 4 a loan approval?
No at all! As long as he has had a continuous employment and can document it, there shouldn't be a problem! Let me know if I can help with anything. I also live in the 22202 zip ... more
0 votes Share Flag Sun Oct 24, 2010 Financing in 22202
Marcia Burgos, Real Estate Pro in Arlington, VA
Marcia Burgos answered:
I am applying for a 30 yr FHA loan. My Loan officer is quoting me an outrageous price for the FHA appraisal - what recourse do I have?
You should be able to switch without a problem. If you haven't paid any money yet then you haven't lost anything. You will have to fill out another application and have your ... more
0 votes Share Flag Fri Apr 9, 2010 Financing in Arlington
Matt Avery,  in Arlington County, VA
Matt Avery answered:
Can I qualify for a house of 850K with an income of 75K, down payment of 30% to 50%, and credit score of 620?
Hi Khoa. I would be happy to discuss your options with you and provide any assistance you may need in obtaining pre-approval. The fact that you have a solid amount of money to put dow ... more
0 votes Share Flag Tue Nov 24, 2009 Financing in 22209
John Shellin…, Real Estate Pro in Pearland, TX
John Shellington answered:
Is it possible for H-1b visa holders and/or F-1 students get a mortgage in the US? Non-resident aliens with 50% down payment shop for a loan in VA...
I've always been told that underwriting would require either a green card, H1 (3 year renewable visa), or an L1 (3 year renewable visa). This applies to conventional and FHA finan ... more
0 votes Share Flag Wed Oct 28, 2009 Financing in 22209
James Gordon…, Real Estate Pro in Hamilton, OH
James Gordon ABR SFR SRS answered:
Is there any chance the President will cut the middle man (banks) out of some real estate transactions as he just announced with Pell Grants?
Hey Creative you can already cut the banks out of a real estate transaction. I have a couple of clients that i deal with that do it all the time. They purchase properties with cash, clo ... more
0 votes Share Flag Tue Sep 22, 2009 Financing in 22201
Lew Corcoran, Real Estate Pro in Easton, MA
Lew Corcoran answered:
If I find a roommate to sign a lease for one year or more, does this allow for better financing options?
No. income received from boarded or roomates is not used in determining whether you'll qualify or a mortgage. You must either stand on your own income and credit. If you need help in qu ... more
0 votes Share Flag Tue Jul 21, 2009 Financing in Arlington
Chris Harrell,  in District of Columbia
Chris Harrell answered:
I've heard that length of employment is an important factor that lenders consider when going for a mortgage.
Hi. Lenders look at time on a job as a "compensating factor". This means if you have a low credit score, few assets, or a high debt-to-income ratio (DTI) then a long time on the job ca ... more
0 votes Share Flag Tue Aug 11, 2009 Financing in 22202
Danilo Bogda…, Real Estate Pro in Reston, VA
Danilo Bogdanovic answered:
Mortgages in Arlington, VA
That is a question best answered by a mortgage professional and you will need to fill out some preliminary paperwork to get an accurate quote.

If you don't get in touch with anyone ... more
0 votes Share Flag Tue Feb 19, 2008 Financing in 22207
Andrew Adams,  in 01915
Andrew Adams answered:
I'm looking for advice on getting financing for a home in the Arlington area in the neighborhood of
You probably won't be able to get piggy back financing up to 95%. Most if not all of the major lenders have scalled back the Max CLTV to 89.99%.

Since you will need jumbo financing ... more
0 votes Share Flag Sun Dec 12, 2010 Financing in 22203
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